Team Trade Recommendations

研报英文原文证据摘录

Team Trade Recommendations

Idea

August 3, 2026 06:07 PM GMT

Morgan Stanley & Co. LLCMSector Credit Research | North America David M Hamburger

Credit Analyst

Team Trade Recommendations David.Hamburger@morganstanley.comJenna L Giannelli +1 212 761-1580

Jenna.Giannelli@morganstanley.com +1 212 761-4340

This monthly summarizes current trade recommendations and Lindsay A Tyler

flags key developments, trade changes, and recent publications. CreditLindsay.Tyler@morganstanley.comAnalyst +1 212 761-2734

Juliana Gonzalez

IG Technology: Our single-name views and investor inbound remain focused on AI Credit Analyst

financing dynamics and related second-order effects, including financing structures, Juliana.Gonzalez.Montalvo@morganstanley.com +1 212 761-0918

Roopi Bhangu

support frameworks, supply crowding, and capex priorities. Key developments this

month include: Roopi.Bhangu@morganstanley.com +1 212 761-1912

• AI repricing: Spread moves across AI-related credits reflect the market Table of Contents

absorbing and anticipating unprecedented issuance alongside a busy earnings - Team Coverage Map

season. While the IG hyperscalers remain a relatively small share of the - IG Technology Valuation Methodology and

credit index relative to equities and should retain market access, investors Risks

continue to assess appropriate compensation and, in our view, would - IG/HY Communications/Media Valuation

welcome greater transparency around funding plans and off-balance-sheet Methodology and Risks

commitments. We discussed these themes earlier in the month in a Thoughts - HY Retail/Consumer Valuation Methodology

on the Market podcast with our Global Head of Debt Capital Markets, and and Risks

last week in a new podcast with Fixed Income Strategy and Equity Sales - Select Recent Publications